William Hill and GVC Holdings have confirmed they are in the preliminary stages of considering a possible joint offer for Sportingbet.
A statement – issued after the recent movement in Sportingbet’s share price – said it was currently envisaged that William Hill would acquire the Australian and certain other locally licensed businesses with GVC acquiring the remaining parts.
Any offer would be substantially in cash with an element of GVC paper.
The boards of William Hill and GVC believe that by acting in combination they represent a highly credible possible offeror for the entire Sportingbet business, substantially in cash. The statement added that no formal approach has been made to the board of Sportingbet yet.
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